NCBA Bank posts Shs 38.9 billion profits after tax
NCBA Bank Uganda Limited has posted Shs 38.9 billion profit after tax for the financial year ending December 31, 2024, according to the bank’s audited financial results. The results reflect a strong year of growth across key performance. The Net Loans and Advances to customers increased by 18% from Shs
Airtel Contributes Shs 37.9 billion to UCC’s Universal Service Fund
Airtel Uganda has contributed Shs 37.9 billion to the Uganda Communications Universal Service and Access Fund (UCUSAF), reaffirming its commitment to expanding digital connectivity across the country. This marks an 11.4% increase from last year’s contribution and represents 2% of Airtel Uganda’s gross annual revenue for the financial year ending
Gov’t to issue corporate bonds to fund state-owned enterprises
Government is exploring plans to issue corporate bonds in the upcoming financial year as a strategy to raise capital for state-owned enterprises, and to rejuvenate the country’s underperforming corporate bond market. The proposal, however, faces significant hurdles, chief among them being the lack of credit ratings for most state enterprises,
19th Islamic Development Bank Global Forum to Explore Digital Transformation and Financial Inclusion in Islamic Finance
The Islamic Development Bank Institute (IsDBI) is pleased to announce the 19th edition of the IsDB Global Forum on Islamic Finance to be held in Algiers, Algeria, on 20 May 2025, in conjunction with the IsDB Group Annual Meetings. Organized annually as a flagship side event of the Annual Meetings,
MTN Contributes Shs 50.55 billion towards UCC’s Universal Service and Access Fund
MTN Uganda has announced a contribution of approximately Shs 50.55 billion to the Uganda Communications Commission’s Universal Service and Access Fund (UCUSAF), marking the company’s largest annual contribution to date towards expanding telecommunication services in underserved communities. This development reflects MTN Uganda’s deepening commitment to accelerating digital inclusion and supporting
MTN reaffirms commitment to Uganda as a strategic growth market
A high-level MTN Group delegation, led by Group Chairman Mcebisi Jonas and Group President and Chief Executive Officer Ralph Mupita, visited Uganda this week to engage with national leaders and key stakeholders. The visit underscores MTN Group’s enduring commitment to Uganda as a strategic market within its pan-African growth agenda.
Relief as Supreme Court blocks I&M Bank from taking over Haruna Sentongo’s properties
The Supreme Court has issued an injunction restraining I&M Bank Uganda from selling, transferring, alienating, evicting, or taking possession of properties belonging to city businessman Haruna Sentongo, a brother to Hamis Kiggundu. The properties in question are located on Kibuga Block 12, Plots 250, 251, and 252 in Mengo. In
“Currency, Money Markets Remain Steady Amid Global Trade Developments”
The Ugandan shilling remained stable, trading within the 3,650–3,670 range, supported by dollar inflows from commodity exporters and offshore investors, according to Richard Nsubuga, a Trader in CIB Markets at Absa Bank Uganda. Demand for the dollar remained low throughout the week. We anticipate the shilling will maintain its strength
𝐒𝐨𝐥𝐚𝐫 𝐌𝟕 unveiled 𝐭𝐨 e𝐱𝐩𝐚𝐧𝐝 e𝐧𝐞𝐫𝐠𝐲 a𝐜𝐜𝐞𝐬𝐬 𝐚𝐧𝐝 𝐏𝐫𝐨𝐦𝐨𝐭𝐞 d𝐢𝐠𝐢𝐭𝐚𝐥 i𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧 𝐢𝐧 r𝐮𝐫𝐚𝐥 𝐔𝐠𝐚𝐧𝐝𝐚
The Minister of State for ICT, Joyce Nabbosa, has officially launched Solar M7, a mobile and affordable solar kit designed to bring clean energy and digital inclusion to rural households in Uganda. Speaking during a media-only briefing in Kampala on Thursday, Nabbosa explained that the initiative is part of the
MTN rolls out nationwide network upgrade to enhance connectivity, boost customer experience
MTN Uganda is rolling out an ambitious nationwide network upgrade aimed at enhancing voice, data, and mobile money services, ensuring customers enjoy a more seamless and superior digital experience. The three-month initiative, which runs through July 2025, is a key pillar of the company’s broader strategy to strengthen digital connectivity
